Daily Market Commentary Flash Note - 25 September 2020

Currencies

The rand continues its retreat.

Commodities

Oil rose, but was still headed for a third weekly decline in four; Gold is heading for the biggest weekly decline in six.

Equities

European markets trade lower and US markets end firmer following a choppy session as a surge in COVID-19 cases globally dampens sentiment.

Date

Region

Event

Actual/Expected/Prior

Implications

23/09

Manufacturing PMI

55.1/55.9/55.2

Slipped to 55.1 due to government’s withdrawal of stimulus packages in the restaurant industry.

Nedbank CIB Market Commentary | CIBMarketComm@Nedbank.co.za | +27 11 537 4091

Source: Nedbank

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Daily Market Commentary Flash Note – 25 September 2020